Desert Mountain has now cancelled a planned equity raise after earlier cutting the offer price by 17% to CAD $2.50 per Unit. The current share price is C$2.30/sh and has fallen 56% from its 12 month high. Desert Mountain still has a relatively lofty market capitalisation versus its Canadian listed peer group of helium explorers. It has also spudded a well on a new prospect but no indication of pre-drill size has been given.
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